Instacart announced that it raised $200 million on its latest round of of investments, bringing the company’s valuation to $17.7 billion. Instacart is cashing in on the pandemic like very few companies can do.
In June, Instacart raised $225 million at $13.8 billion valuation. The latest round of investment is led by Valiant Peregrine Fund and D1 Capital.
The delivery company is working on branching out to non-grocery deliveries as well. Instacart has partnered with Walmart, Sephora, and 7-Eleven in the United States.
In the last year, Instacart has seen 500% growth in sales during the pandemic as customers opt to get deliveries instead of going to the stores. The company has announced that they hired more than 500,000 employees.
Instacart is working on an IPO.